Bernie Madoff: From Coke Dens to Involuntary, Forced Prison Sex

Thursday, October 22, 2009 , , , 1 Comments

Didn't KPMG auditors in the UK sense something was wrong when they discovered "Rico the Coke Dealer" in Madoff's accounts payable?

Apparently not.

CNN Money shows that Bernie Madoff was kind of a pimp:

A new lawsuit alleges that convicted swindler Bernie Madoff financed a cocaine-fueled work environment and a "culture of sexual deviance," and he diverted money to his London, England, office when he believed federal authorities were closing in at home.

The lawsuit, filed Tuesday in New York's State Supreme Court, was brought on behalf of former investors and seeks unspecified punitive damages and compensation.

Beyond that, it offers a look at what the plaintiffs' attorneys say was once Madoff's multimillion-dollar empire and what is now his world in a federal prison in North Carolina.

Among the allegations in the 264-page lawsuit are that during the mid-1970s, Madoff began sending employees to buy drugs for company use.

The complaint alleges that some employees and investors were aware of the drug purchases, and that BMIS [Bernard Madoff Investment Services] was known by insiders as the "North Pole" in reference to the excessive amount of cocaine use in the work place.

I wonder what the auditors nicknamed the joint.

When reliance is high, risk of material misstatement is low. When coke abuse is high, no one gives a shit. (thanks, Roger, for making this clear - the audit part, that is)

Poor Bernie, now all he's getting is his pudding stolen and repeated nightly assrape. Alright I made up the part about assrape, I'm sure he's playing bridge and watching lots of Maury Povich.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


OldSouth said...

So, we should be surprised?

Thanks for the update.

Did you see the bit on Letterman where he posted a countdown clock on time left to serve on Bernie's sentence?